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Buffalo Specialty Products has received a $160,000 loan from the state Urban Development Corp. for the purchase of equipment that will enable it to obtain electricity from Niagara Mohawk Power Corp.

The Lackawanna manufacturer, which is located on the former site of Bethlehem Steel Corp., currently receives electrical power through a network owned by Bethlehem. Because the steel company is in the process of selling its power equipment, Buffalo Specialty Products has to hook up to Niagara Mohawk's system.

Buffalo Specialty makes highway guard rails, bridge decking and the metal components of rail cars.

The total cost of the power conversion is $409,740.

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